This week:
Institute of Directors consults on Code of Conduct for Directors
The Institute of Directors (IoD) is consulting on a new Code of Conduct for directors.
The IoD's Code of Conduct is a practical tool designed to help directors of all kinds of company fulfil their responsibilities and make better business decisions. The Code is voluntary, with directors signing up to it to show their willingness to apply high ethical and behavioural standards.
The Code is structured around six "Principles of Director Conduct", namely leading by example, integrity, transparency, accountability, fairness and responsible business. Each of the Principles is in turn underpinned by "Undertakings" specific to that Principle.
The IoD has asked for feedback generally on the Code. It is also particularly interested in receiving views on the following.
- Whether there are any additional issues that should be addressed in the Code.
- How awareness of the Code can be encouraged among directors and the wider public.
- Whether directors should make a public declaration or disclosure of their adoption of the Code.
- Whether there is a role for government, regulators or professional bodies in encouraging adoption of the Code.
- Whether existing directors would be willing to commit to the principles and undertakings in the Code.
It has asked for feedback by 16 August 2024.
Read the press release on the consultation on the Institute of Directors' Code of Conduct
Read the consultation paper on the Institute of Directors' Code of Conduct (opens PDF)
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